NEW YORK (Reuters) – President Donald Trump is seriously considering abandoning efforts to remake the nation’s biofuel laws after wading deep into an issue that divides some of his core constituencies, according to three sources familiar with the administration’s thinking.
FILE PHOTO: U.S. President Donald Trump takes part in a forum called Generation Next at the Eisenhower Executive Office Building in Washington, U.S., March 22, 2018. REUTERS/Leah Millis/File Photo
Advisers have urged Trump to instead let Congress tackle the biofuel reforms, but use the threat of administrative action to help rival lawmakers come together and solve the intractable issue.
The U.S. Renewable Fuel Standard (RFS) has created reliable demand for corn farmers in the nation’s heartland, but merchant refiners like Valero Energy Corp say the costs to comply with the program have taken a huge financial toll.